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Choose amount to borrow: £

Representative APR 305.9% (variable)

Representative example: £400 borrowed for 90 days. Total amount repayable is £561.92 in 3 monthly instalments of £187.31.
Interest charged is £161.92, interest rate 161.9% pa (variable).

Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk


24 Hour Payday Loan Alternative

Payday loans and short term loans are very similar in many ways, although with a short term loan you can borrow the money for up to 12 months, making them a great payday loan alternative. Both are useful in a financial emergency, offering an instant decision on your application, and you can borrow between £100 and £2,000 (subject to the lender's requirements and approval).

It is very easy to apply for a short term loan. The application process is 100% online with no faxes or phone calls and you can apply online 24 hours a day. The money that you need for your financial emergency could be in your bank account within an hour of signing your agreement†, sometimes as quick as 10 minutes. If your bank doesn't support faster payments this could take slightly longer.

Once you have completed your short term loan application, your details are sent to Monevo's approved panel of lenders to see who can offer you a loan. The lender offering the most competitive rate will be selected and credit offered. In some cases, a lender may offer you to lend you a lower amount, that they feel is more within your means to comfortably repay. By filling in an application form, you are not committing to anything in any way until you sign the electronic loan agreement to accept credit. Once you sign your credit agreement it’s just a case of waiting for the money to be paid into your bank account.

Monevo strongly advocate responsible borrowing; if you can’t afford to repay it comfortably please don’t apply for a loan. If you are struggling financially for longer periods of time you may wish to seek independent debt advice. There are several agencies in the UK that offer this service for free. See our debt advice page to see some of the organizations that you can speak to for free and in confidence.

Common Questions

Can I apply for a loan?

Yes you can apply for a loan as long as you meet a few minimum requirements. These are that:

  • You are over 18 years of age.
  • You are a UK resident and eligible to work.
  • You are employed and receive a regular income.
  • You have a UK bank account that accepts direct debits.
How much am I able to borrow?

You can apply to borrow between £100 and £2,000 with a short term loan and with an instalment loan you can borrow between £500 and £25,000. You should only borrow as much as you really need to minimise the amount of money that you have to repay.

All loans are subject to lender's requirements and approval.

How much will it cost?

Short term loans

The maximum charge for short term loans is limited to a maximum charge of 0.8% per day by the Financial Conduct Authority (FCA).

The representative APR is 305.9% (variable). Representative example: £400 borrowed for 90 days. Total amount repayable is £561.92 in 3 monthly instalments of £187.31. Interest charged is £161.92, interest rate 161.9% pa (variable).

Larger personal loans

The representative 33.6% APR. Representative example: £2200 borrowed for 36 Months. Total Amount Repayable is £4172.37. Interest Charged is £1972.37, Interest Rate 29.9% pa (variable).

How long can I borrow money for?

You can borrow money for anything up to 12 months with a short term loan; However you can borrow money for much longer with a larger personal instalment loan.

Does it cost money to apply for a loan?

We don’t charge anything and Monevo's loan finding service is completely free to use. If a lender asks you to pay a charge to process your application we recommend that you do not proceed because a loan offer can not be guaranteed.

What should I do if I cannot pay back my loan on time?

If you cannot afford to meet your loan repayments on time it is very important that you speak directly to your lender as soon as you can. In the UK lenders are required by law to support you and try to find a solution that works with you to help you repay your loan while minimising extra costs.

Are you a direct lender?

No, Emergencyloans247.co.uk is not a direct lender. We introduce you to Monevo’s lender panel. We do not charge you for using our service. Our service enables your application to be seen by multiple lenders, meaning that you have a better chance of being approved.

Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk. Representative 305.9% APR. Representative example: £400 borrowed for 90 days. Total amount repayable is £561.92 in 3 monthly instalments of £187.31. Interest charged is £161.92, interest rate 161.9% pa (variable).